In this guide, we’ll explore the differences between the data in Insights Explores—such as STR Benchmarking, Strategic Analytics, and Performance Insights—and STR’s Weekly and Monthly Reports.
We will cover:
Data Sources and Their Applications: Overview of PMS data in
Insights, STR data inInsights, and STR published reports.Terminology Differences: Comparison of key terms used by STR and
Insights.Understanding Nuanced Differences: Examination of data aggregation, occupancy metrics, and revenue metrics.
Comparison and Alignment on Revenue Definitions: Table aligning revenue definitions between STR and Insights.
Practical Implications for Users: Advice on reconciling data discrepancies, making strategic decisions, and ensuring accurate reporting.
By the end of this guide, you will understand how to leverage data from both Insights and STR reports for more effective analysis and decision-making.
Data Sources and Their Applications
Property Management System (PMS) Data in Insights:
Strategic Analytics and Performance Insights Explores: Utilize data directly from your Property Management System (PMS), including booking data and other operational metrics in near real-time, depending on your PMS integration.
STR Data in Insights:
STR Benchmarking Explore: Receives daily files from STR, ensuring access to the most recent 90-day period and a historical archive of up to two years, reflecting any recent data changes made by you or STR.
STR Data in STR Published Reports:
Weekly and Monthly Reports: STR provides aggregated benchmarking data on both a weekly and monthly basis. These reports reflect broader market trends and performance metrics, compiled from data supplied by you and your competitive set to STR. For more information, click here.
Terminology Differences Between STR and Insights
Category | STR Term | Insights Term | Description |
Type of Accommodation | Hotels | Properties | Insights uses "properties" to inclusively represent various types of accommodations. |
Accommodation Units | Rooms | Units | Insights uses "units" to support an inclusive approach to various accommodation types. |
Revenue Category | Rooms Revenue | Accommodation Revenue | Insights refers to "accommodation revenue" to cater to a broader range of accommodation types. |
Non-Room Revenue | Additional Revenue | Product Revenue | Insights uses "product revenue" to describe all non-rooms/accommodation operating revenue. |
Understanding Nuanced Differences
Data Aggregation:
STR Reports: Provide essential room-level data aggregated into weekly and monthly summaries. These reports are valuable for high-level benchmarking but may lack the detailed granularity available in
Insights.Insights: Enhances STR’s foundational data with additional granularity, flexibility, and analytical capabilities.
Insightsallows you to dynamically aggregate or disaggregate booking data from the PMS at various levels, such as bed-level or room-level, for each stay.
Occupancy Metrics:
STR: Provides room-based occupancy metrics, which are useful for high-level benchmarking. However, these metrics may not capture the nuances of bed-level occupancy in hostels or alternative accommodations.
Insights: Offers occupancy metrics based on units, which could be bed-level or room-level depending on your configuration for
FLYR Hospitality.This provides a more detailed perspective on inventory segmentation.
Revenue Metrics:
Revenue Reporting
STR Benchmarking Explore:
Strategic Analytics and Performance Insights Explores:
Accommodation Revenue: Includes all revenue from overnight and day-use accommodations.
Additional Revenue: Encompasses all other revenue categorized as Accommodation Revenue in your PMS.
Total Revenue: The sum of Accommodation Revenue and Additional Revenue.
Product Revenue: Includes all operating revenue attached to a booking which is not Accommodation or Additional Revenue.
Comparison and Alignment on “Revenue” Definitions Between STR & Insights
Category | STR Term | Insights Term | Definition | Reconciliation in Insights with STR |
Rooms Revenue | Rooms Revenue | Total Revenue | Revenue generated from rooms. | Use the Total Revenue measure along with the Additional Revenue Description dimension to categorize and compare accurately. |
F&B Revenue | F&B Revenue | Product Revenue | Revenue from food and beverage operations. | Use the Product Name dimension with the Product Revenue measure to align with STR’s F&B Revenue. |
Other Revenue | Other Revenue | Product Revenue | Revenue from other sources not included in Rooms or F&B Revenue. | Use the Product Name dimension with the Product Revenue measure to align with STR’s Other Revenue. |
Total Revenue | Total Revenue | N/A | Sum of “Rooms Revenue,” “F&B Revenue,” and “Other Revenue” categories. | Sum Accommodation Revenue, Additional Revenue, and Product Revenue measures. Use the Additional Revenue Description and Product Name dimensions as needed. |
For a detailed guide on how revenue should be categorized according to STR's standards, please refer to STR's reporting guidelines.
Practical Implications for Users
As a user of Insights, it's crucial for you to understand the differences between Insights PMS data and STR reports for several important reasons:
Data Reconciliation: Address and reconcile discrepancies between data from Insights PMS and STR reports by understanding the nuances in the timing and granularity of the data feeds.
Strategic Decision-Making: Leverage the ability to drill down into data for detailed analyses and make more responsive decisions.
Reporting Accuracy: Familiarize yourself with the different terminologies and revenue categorizations to ensure accurate reporting and maintain compliance with industry standards.
We hope this article has enhanced your understanding of the data available in the STR Benchmarking, Strategic Analytics, and Performance Insights Explores. Our goal is to empower you to cross-utilize this data for more strategic decision-making, providing a more holistic representation of historical performance.
For further guidance, explore our Explores, consult Insights help articles, or connect with our Advisory team for specific questions!